julies Blog

WHAT WILL INTEREST RATES DO NOW?

All of us in the Real Estate business have been wondering how the mortgage rates were going to be affected today. In our morning meeting, our Mortgage Dept told us to expect several changes throughout the day and those changes would more than likely be increased rates. As we all know, no one can really predict with accuracy what is really going to happen until it happens, we can anticipate, but the end of the day tells the tale.

Here is the update from Josh Wright in our Lending Dept on what actually happened today to the rates;

Not much movement in the rates today. The 10 year bond went down 21 basis points today alone. On a normal day a 2 point drop in the 10 year bond would equal a .2% drop in rates. Although the 10 year bond went down more than I have ever seen in one day, rates increased. That is very abnormal and hard to explain. Rates only increased once today and that was this morning, probably as a precaution more than anything. There is a lot of uncertainty right now, but rates remain at an all time low.


Rates for 8/8/11
VA4.2%
FHA4.3%
VA4.4%


Josh Wright
Mortgage Advisor


When You Work With Me, I Deliver The Key
Julie Nettleton
ERA-King Real Estate
256-454-5735
Julien@era-king.com
http://www.allalabamahomes.com/


I LOVE REFERRALS, so if you know of anyone that is looking to either buy or sell real estate,(doesn't have to be in Alabama)please send me an email, and I will see what I can do to help.